About Andhra Bank Personal Loan

A personal loan is a loan without collateral and paid with instalment for the life of the loan, which may be till five years of issue. Personal loans may have high-interest rates, but the tenure is quite long to pay off the instalments. Andhra Bank Personal Loan Approval Process The personal loan provided by Andhra Bank Personal Loan is an unsecured type of loan and needs minimum documentation.

Benefits of Personal Loan:

Can take a loan up to Rs. 25 lakh or for more, the borrower is eligible to take a loan that is 30 times its monthly income. Although this varies from lender to lender.
Large tenure payment up to 5 years also the borrower can choose for how long they want to pay the tenure.
Quickly processing loans: rapid disbursal of loans can be helpful in this unpredictable lifestyle. In addition, it might be used for medical or any other emergencies.
No collateral is required. While applying for a gold loan, you need not give your assets to avail funds.

Andhra Bank Personal Loan Eligibility

The eligibility criterion for a personal loan are:

Particulars	Salaried	Self-Employed
Age	21 – 60 years	21 – 65 years
Minimum Income	Rs.15,000*	Rs.5 Lakh p.a.
Co-applicant	Not mandatory	Not mandatory
Loan Tenure	12 – 60 months	12 – 60 months
Maximum Loan Amount	Rs.40 Lakh	Rs.40 Lakh
Employment Type	Employees of private limited companies and public sector undertakings	Self-employed individuals
Employment/Business Continuity	At least 2 years; minimum 1 year with current employer	4 years Post Qualification experience for Doctors/ Chartered Accountants. 5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score	750 and above	750 and above
Residential Status	Resident Indian staying in own house or a rented house

*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank	Age Limit	Minimum Work Experience	Minimum Income (Per Month)
SBI	Up to 76 years	NA**	Rs.15,000
HDFC	21 to 60 years	2 years	Rs. 20,000
Private	23 to 58 years	2 to 5 years	Rs.17,500
Axis	21 to 60 years	NA**	Rs.15,000
Kotak Mahindra	22 to 55 years	1 year	Rs.25,000
Tata Capital	21 to 58 years	1 year	Rs.15,000
IndusInd	21 to 60 years	2 to 5 years	Rs.25,000
Ujjivan Small Finance	22 to 58 years	NA**	Above the minimum wage limit
India Infoline Finance Limited	25 to 60 years	6 months to 2 years	Rs.35,000
HDBFS	21 to 65 years	1 year to 3 years	Rs.15,000 for salaried Rs.1 lakh p.a. for self-employed
Indian Overseas Bank	Up to 58 years	NA*	Rs.5,000
IDFC First Bank	23 to 68 years	3 years	NA*
Federal Bank	21 – 55 Years	3 years	Rs.25,000
Punjab National Bank	21 – 58 years	2 years for doctors	Rs.15,000
Andhra Bank	21 – 55 years	NA**	NA*
Canara Bank	NA**	NA**	Salaried: Rs.6,000 & above Self-employed – Rs. 1.5 lakh
IDBI Bank	Up to 75 years for Pensioners	NA**	Rs.1.5 lakh p.a.
Fullerton India	21 to 55 years	1 to 2 years	Rs.15,000
RBL Bank	25 to 60 years	1 to 3 years	Rs.25,000
Bank of Baroda	21 to 60 years	1 year to 2 years	60% of gross monthly income
Deutsche Bank	25 to 60 years	NA**	Rs.25,000
Karnataka Bank	NA**	3 years	NA*
United Bank of India	up to 75 Years	2 years	NA*
UCO Bank	21 to 65 years	1 year to 5 years	Rs.20,000

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

Documents Required for Andhra Bank Personal Loan

The documents required are:

List of Documents Required for Salaried Applicants

Salaried individuals must submit the following documents in addition to a completed personal loan application form:

Photo Identity Proof (Any one)	Passport PAN Card Voter’s ID Aadhar Card Driving License
Address Proof (Any one)	Passport Utility Bill (telephone, electricity, water, gas) – less than 2 months old Aadhaar Card Driving License Ration Card
Income Proof	Salary slips (Last 3 months) Bank statements for the last 3 to 6 months (showing salary credit)
Tax Paid (Any one	IT returns (for 2 years) Form 16
Residence Ownership Proof (Any one)	Property documents Maintenance bill Electricity bill
Proof of Job Continuity (Any one)	Current employment certificate Current job appointment letter (if more than 2 years have been spent in the same organisation) Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
Proof of Investment (if any)	Fixed assets, fixed deposit, shares, etc.
Existing Loans (if any)	Payment Track Record & Sanction letter
Photograph	One coloured passport size photograph

List of Documents Required for Self-employed Applicants

Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:

Photo Identity Proof (Any one)	Passport PAN Card Voter’s ID Aadhaar Card Driving License
Address Proof (Any one)	Passport Aadhaar Card Driving License Utility Bill (telephone, water, electricity, gas) – less than 2 months old Ration Card
Proof of Residence Ownership (Any one)	Property documents Maintenance bill Electricity bill
Proof of Office Address and Ownership (Any one)	Maintenance bill Property documents Electricity bill
Proof of Business Existence (Any one)	Copy of GST registration Company registration license Shop establishment proof
Income Proof	Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
Bank statement	Savings/current account bank statement/ bank passbook for the past one year
Proof of Investment (in case any)	Investments such as fixed deposit, fixed assets, shares, etc.
Existing Loans (in case any)	Payment Track Record and sanction letter
Professional Degree Certificate	In case of professionals
Photograph	One coloured passport size photograph

List of Documents Required for NRI Applicants

When applying for a personal loan, NRI candidates are typically required to submit the following documents:

Identity Proof	Copy of the passport Copy of the visa
Employment Proof	Letter of Appointment Job contract Labour/ Identity card (if applicable) Official email ID or the HR’s email ID
Income Proof	Last 6 months’ bank statements Last 6 months’ salary slips or salary certificate
Photograph	Passport size photographs

List of Documents Required for Pensioners

When applying for a personal loan, a pensioner must submit the following documents:

Identity/Age Proof (Any one)	Ration card Passport PAN card Aadhar card Voter ID card Driving licence Birth certificate School leaving certificate
Address Proof (Any one)	Passport Aadhaar card Utility bills Ration card Driving licence
Income Proof (Any one)	Last 6 months’ bank statements/salary slips Bank passbook Form 16 Copy of pension payment order Income tax returns
Photographs	Passport size photographs

Know More About: Personal Loan Eligibility Criteria

Andhra Bank Personal Loan Approval Process

The bank received the personal loan application, where the bank will verify the information you gave in the application form. Details such as salary deposits, bank statements, and any other activity such as deduction of EMI from your account will be noted.
Then comes the verification stage, where the information you provided to the bank is verified. The KYC process is done here. For example, the bank officials may call you to the bank with applications and documents. The bank here cross verifies your documents provided, such as inquiries in the workplace or visiting your home to avoid fraud.
Here’s where the credit score matter. First, a score of 750 or more is appreciated, and your loan is instantly approved. Next, the bank checks your credit score and looks at the transition history. Then, IT returns are examined for the final step that is the approval of the loan.
The loan amount for the personal loan and tenure will be decided based on
credit score,
age,
annual salary,
salary growth rate and
several years left in service.
Once your loan is approved, pay the processing fee and now can utilise the money.

Steps to Apply for Andhra Bank Personal Loan

Visit the official website of Dialabank or contact us on 9878981166.
Fill in the information requested by the lender for approving the form and submit the form.
With this, Dialabank would recommend you the amount of money you are eligible for.
Lastly, Dialabank will process your documents and verify them, and if the loan is approved, the funds will be immediately transferred into your bank account.

Andhra Bank Personal Loan Approval Process FAQs

✅ What is processing fees in Andhra Bank Personal Loan?

Loan processing charges: Charges you incur on a Personal Loan. The bank has to bear some organisational expenses while processing and approving the loan. This is usually a tiny amount, which differs from bank to bank and can cost about 0.5% to 2.50% of the total amount of the loan applied for.

✅ How can I apply for Andhra Bank Personal Loan?

Through both offline and online, an individual can apply for a personal loan. For offline, you can visit the nearest Andhra Bank for Personal Loan and online, visit DialaBank for more data.